Ence completes purchase of 50MW Puertollano CSP plant from Iberdrola

Spanish company Ence Energia y Celulosa SA announced on Friday it has closed the acquisition from Iberdrola SA (BME:IBE) of a 90% stake in the 50-MW Puertollano solar thermal power plant.

More specifically, Ence has acquired the plant’s holding company, Ibersol, for EUR 139.8 million (USD 158.2m), excluding EUR 41.5 million in cash. A further EUR 6.3 million will come as an earn-out payment, Ence stated in its press release.

Ence Energia Solar has also assumed the ownership of a loan granted by Iberdrola Financiacion to Ibersol.

Last month, the Spanish firm said it is expanding to EUR 69 million the green financing for a 46-MW biomass plant, also located in Puertollano, Ciudad Real province.